Welcome!

News Feed Item

Led by Bangalore and Hyderabad, the MagicBricks' 11 City PropIndex Rises 2%

NEW DELHI, December 6, 2012 /PRNewswire/ --

The Sixth Edition of MagicBricks.com's PropIndex, the First Index of its Kind That Tracks Demand and Supply of Properties Across 11 Major Cities of India, hit the Stands

Despite weak buyer sentiments, the National Property Index (NPI) went up by over 2 percent in the Jul-Sept' 2012 quarter as compared to Apr-Jun' 2012 quarter. Of the 11 cities in the apartment Index, 9 cities showed a rise in the property index values - led by the southern metros of Bangalore and Hyderabad.

Based on dynamic data mined from MagicBricks.com, PropIndex focuses on the National Property Index (NPI), a weighted average of city indices. The data from India's No.1 property portal is refined with intricate algorithms to arrive at Index Values at locality, city and national levels across India.

The composite index values of each of the 11 cities are drawn from the changing indices of different localities. Localities that are more active compared to others contribute more significantly to the index values of that city. This index is reflective of trends across multi-storey and single floor apartments (commonly known as builder floors).

This quarter, Delhi, Gurgaon, Noida-Ghaziabad, Pune, Ahmedabad, Kolkata, Hyderabad and Bangalore - all saw a rise in their indices while Mumbai and Chennai registered stable values.

Bangalore topped the city index chart by registering an average of 7 percent increase followed by Hyderabad, Gurgaon and Pune with 5, and 3 percent rise, respectively. The city witnessed a change of about 7-9 % in capital values in some top localities.

Ahmedabad, Delhi, Kolkata, Noida and Ghaziabad saw a rise of 1-3 percent in the city index values. Bangalore, Hyderabad, Pune and Gurgaon were the major contributors to the NPI within the Jul-Sept quarter.

Some of the other Significant Findings of PropIndex include:

1. Areas that witnessed good road infrastructure, metro-rail connectivity and better facilities saw a rise in values.

2. Affordable localities saw increased buyer demand as compared to premium localities in cities such as Pune, Bangalore, and Mumbai.

3. Increased values were registered across IT-driven localities in cities such as Bangalore, Pune, Kolkata and Chennai for both outright purchase and lease.

4. Similar to the last quarter, growing preferences for smaller sized residential units (1 and 2 BHK) were recorded in almost all the cities.

5. Multi-storey apartments remained the most sought-after property type across all cities. Demand for larger unit-size properties was mainly witnessed in premium localities. The supply of these units continued to outstrip the demand in this category in almost all the cities. 

A sample of User Endorsements from actual subscribers -

"The Real Estate market is on an upward curve at present. The PropIndex by MagicBricks.com is a good index for gauging the market and taking decisions. It is indeed very helpful, not only for developers, but also for buyers, professionals in the financial sector and market analysts." - A Balakrishna Hegde, Managing Director, Chartered Housing Pvt. Ltd.

"PropIndex is a great step in knowledge initiatives, bringing out well-studied reports by MagicBricks.com. It is, indeed, a commendable job. I take this opportunity to wish PropIndex all the success." - Muninder Seeru, Director, G: Corp Developers Pvt. Ltd.

"The PropIndex, covering top yield grossers and capital gains in residential properties, in 11 leading cities for 260 locations, gives valuable insights into the moving property values scenario. The scientific methodology adopted, based on meticulous research on dynamic property movement trends, provides a good benchmark index for discerning property buyers and real estate watchers." - V Suresh, Principal Executive Officer, HIRCO

"PropIndex is a perfect tool for potential investors/buyers in understanding the price movement of the properties in a respective city vis-à-vis other cities, thereby deciding their investment choices. The research based on 400,000 postings by 100,000 active users will be but a close-to-reality index. In this perspective, MagicBricks.com's PropIndex is certainly a boon for the real estate industry." - R. Murugesan, CEO, Shriram Properties

"The PropIndex is insightful and provides in-depth analysis in a consolidated manner. The information is quite useful as it assists multiple stakeholders in analysing data and arriving at the most relevant strategy or solution." - Avinash Rao, Regional Director - South, Knight Frank India Pvt. Ltd.

About the MagicBricks.com PropIndex:

"PropIndex" is an apartment index that tracks the property market performance of 11 cities across the country. Based on a bedrock of immense data, this Index, pioneered by India's biggest property portal, MagicBricks.com, will offer a rounded perspective of trends in prices, rentals and supply of apartments in all these markets.

The PropIndex and detailed report processed from the largest base of "live" data from:

  • Over 400,000 active properties;
  • 3 Million+ active property requirements;
  • close to 4 million visits per month; 
  • approx. 35 million page views per month; and
  • approx. 60 thousand property responses (enquiries) per day.

The PropIndex also features:

-  "Smart" algorithm and statistical tools to handle large data volumes.

-  Expert comments from top builders and brokers.

-  Original content sourced from in-house research and from multiple "advice" platforms available on MagicBricks.com

Each city report covers the important metrics of -

National Property Index (NPI): A weighted average of 11 different city indices (CPI)

City Property Index (CPI): This has been derived as a function of supply of properties weighted against the average capital value appreciation/drop in various localities of the city.

Price Monitor: Reflects the capital appreciation/drop within various localities of a city.

Rent Monitor: Reflects the rental appreciation/drop within various localities of a city.

Yield Meter: This is the annual rate of return earned on a property.

Capital Value Tables: Indicates the capital prices for property prevailing in various localities of a city

Please visit http://property.magicbricks.com/microsite/buy/prop-index-new/index.html to download more city-specific details.

Primary Media Contact: Aseem Seth, TBSL, aseem.seth@timesgroup.com, 91-9910273367

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
SYS-CON Events announced today that SD Times | BZ Media has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and commercial UAV markets.
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.